According to Bloomberg.com, the Federal Housing Finance Agency reports that U.S. house prices rose 7.4% in the year through April.
The Federal Housing Finance Agency (FHFA) said that prices increased 0.7% on a seasonally adjusted basis. In addition to housing prices, mortgage rates are on the rise as well. However, this could limit buyer demand. In November, the average mortgage rate was at a record low at 3.31%. In May, the recorded rate was at 3.35% and just last week the percent was recorded at 3.93%.
What do you think about housing prices and mortgage rates increasing? Let us know on our Facebook wall. To continue reading about these rates, please follow the link provided. http://www.bloomberg.com/news/
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